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. >> japan's prime minister wastes no time on calling on the bank of japan to recognize support after a land slide win returning the dlp to power. >>> get a little, give a little, house speaker john boehner may be willing to raise taxes on the wealthy if president obama allows entitlement cuts in return. >>> and corporate news weighs on sentiment across europe. kpn shares fall after dividend and greco stocks plunges as analysts cut their outlook for the uk power group. >> okay. welcome. it's the start of a brand new week here on "worldwide exchange." and don't adjust your set, kelly and i are together. >> for once, for a day. >> but make the most of it because it won't be lasting. >> if only there were a slo-mo. >> i'm going to enjoy as much as i can of today. >> and likewise. and then we're going to have to get all of our u.s. voouers to find cnbc world because they could get three hours of you, carol and carolin for the rest of the week. >> whatever they can do. record it and fast forward to the good bits. >> yeah. >> it will be 2:00, 3:00 in the morning or whatever. >>> on today's show, p
avoid a recession in q4. >>> and japan's business sentiment sours in the fourth quarter. this reading comes two days before a nationwide vote that suggests it will hand the ldp position a landslide win. >>> we're going to give you all the latest results from the flash december data for the pmi for the eurozone that we're just getting out. the overall, the deposit is a touch stronger for the month of december. the details show the manufacturing weakened slightly and its services strengthened slightly. they are overall still in negative territory. and we're seeing the euro/dollar respond a little bit to the downside. down about 0.01% trying to fight back into flat on the day. 130.75 is the level there. again, the services pmi is at 47.8. compared with the 47 that was expected. it's a five-month high. the manufacturing pmi, 46.1. the manufacturing all told, 46.3. that's a bit under the poll of 46.6. with more on the reaction to these figures, we have rob doddson with us. rob, welcome. it appears ta stronger services may be weaker on the manufacturing relative to expectations, at least, b
>>> hello and welcome to "worldwide exchange." ross westgate is away. i'm kelly evans. japan's central bank boosts assets by another $120 billion. boj says it will discuss raising its inflation target next month. tech stocks fall in europe after ericsson unveils a swedish crown writout related to its loss chip venture. >>> reports say the intercontinental call is in talks to buy euro next. >>> and vows to continue the current government's battle against japanese territorial claims. >>> japan's central bank has decided to extend its asset purchase program to $120 billion. it will review the bank's stance on price stability next month. abe has been putting pressure on the boj to raise its inflation target to 2% as part of efforts to fight deflation. for more on the fallout or the impact here, let's talk to luca from asia pacific. you look like you're in mourning here, but it sounds like the bank of japan has delivered pretty much what the market was looking for the. >> yes. it was delivered in order to be seen as losing independence after the campaign, very aggressive campaign
seconds, here is what else we've got for you, an in japan, again, a landslide win, so, what's the new prime minister going to do about the world's worst debt problem? print more money and stimulate more, too. build more infrastructure. will that work? we have our own resident japan expert. question, is jeff immelt's cozy relationship with the president costing general electric shareholders money? we will be discussing it. and i lost on friday when i questioned "the washington po " post's" claim that the senate would be better with more women. i'm not done debating that. more coming up on this program today. and we want to hear from you as well. send your e-mails to varney@foxbusiness.com and we read them on the air. and we read all of them, by the way. i've got news, clearwire selling itself to sprint for $2.97 a share and sprint raised its offer by 7 cents. some clearwire shareholders wanted and expected more. that stock is down. sprint is up, it's getting what people consider a good deal, at least that's what the market is saying. it's up what, 4 cents, not much. aig selling the re
in boosting inflation ultimately. the euro/dollar, 1.3221. so for trading in asia, just how japan, china and the rest have been affected by fiscal cliff news, diedra morris is join onning us with plenty more. hi. >> hey, kelly. it was a bit of a rude awaking. a lot of these indexes were on their way to gains and then we had the fiscal cliff setback. we had news that john boehner's plan b failed. this all turned red and this is where we ended. the nikkei 225 coming back from that huge rally that we have seen over the last five weeks shedding 1%. the exporters hurt here because the dollar/yen was lower. it has regained some ground in the last few hours or so. the kospi shedding about 1%. blame politicians in the u.s. and blame heavyweight samsung. this accounts for some 20% of market value on the kospi index. down 4%. that hurt the broader markets. this is, of course, because eu regulators are poised to excuse samsung of breaking competition rules and filing competition patent lawsuits against samsung. greater chinese markets, shanghai more isolated from global happenings and fiscal cliff
. >>> and japan's finance minister is saying other companies have no right to lecture japan on its currency policy instead calling for the u.s. to seek a strong dollar. >>> okay. welcome back to "worldwide exchange" this morning. let's take a quick check on trade as we close out the last full trading week of the year. not even a full week, but just one of the last trading weeks of the year. >> monday seems so far away. >> it's just kind of sticking out there, the 24th and 31st. european markets were closed for boxing day week. got back into trade yesterday. sort of a mixed bag across the board. u.s. markets were weaker and this morning europe is following the u.s. down that path. the ftse just a little bit lower. the xetra dax down by .1%. the cac 40 which was one of the strong performers yesterday giving up some of its gains. the ibex 35 underperforming. >> the penny stock not worth a whole lot so you have to take that into consideration. but yeah, drifting lower on the bond markets. today we have this italian debt auction which would be interesting. we've got rome offering somewhere in 2 to 3 bi
birth rate similar to what japan experienced. are we headed that way. keith fitz-gerald, a resident of both countries, america and japan, we'll get his assessment on that. and please, we want to hear from you, e-mail us at varney@foxbusiness.com. tell us exactly what you think and what we talk about. monday morning, seven early movers, apple s rolling the iphone five out worldwide and hits china december 14th. 50 countries will get it and the stock is almost back to 600. dell, goldman sachs upgrade today a buy from a cell. $13 is the price target. it is up today. myriad genetics, the supreme court agrees to hear a case whether genes could be patented. if so, a boost for the company. if you can patent them up goes the stock, but today it's down. delta airlines is in talks to buy 49% of virgin airlines from singapore airlines. and maker of the ugg boots, they're out with positive comments on the stock, sets a $65 price target and it's at 41 and rising. and some soamazon, billions ord on-line. and disappointing results for the well in the gulf of mexico, down it goes. t dow industrial
. erbe will be a clear win in japan. however big will the lead be and what influence tell have on the bank of japan. dollar and yen pressured by more q.e. talk. and aussillar three-month high. the prospect of q.e. boosting commodityets. canadian doing well. firm at 1.6122. we have more on the asian trading day out of singapore. >> reporter: hi, thank you, ross. most asian markets finished on a bright note. the shanghai composite recouped morning losses in positive territory. property stocks turned higher in the afternoon. stocks also rallied while investors await beijing's detailed plan on urban development. strengthening main line blue chips pushed the hang seng to a 16-month high. developers, industrials, and gaming stocks among the top gamers today. >>> in japan the country's october machinery orders not rebounding as strongly as expected. investors were still in the buying mood ahead of this sunday's election. the nikkei ended near an eight-month closing high with exporters rallying on the weaker yen. south korea's kospi gained ground despite north korea's rocket launch. au
.3 earthquake strikes japan's northeast coast. tsunami warnings have been issued. job growth in the u.s. are expected to have slowed significantly in november as hurricane sandy battered the economy. and euro hits a session low, 0.4% as problems in europe's periphery continue to weigh. a powerful 7.3 magnitude earthquake has struck across japan's northeastern coast. the quake rocked buildings as far as tokyo according to reports. u.s. geological survey said there was no threat in the wider pacific ocean. the yen has been rising to a session high before we got details of that. and right now, you can see dollar-yen at 82.39. 82.17 before that happened. some safe haven in-flows into japanese currency. if there was going to be a wave in terms of tsunami that was going to hit, it would have happened around five, six minutes ago and she had yet to see any specific drop or change in the sea level. so we'll hope that that continues on that particular way. atomic power says no irregularities seen at its nuclear plant. operations are normal after the quake. so we'll keep our eyes on that. and w
live to japan straight ahead. >>> plus talk about your deadlines. today we are seven days from congress going on holiday and 25 days from plunging off the edge of the fiscal cliff. >>> the "new york post" photographer who took the picture of the man in the subway tracks before he was hit sits down to tell his side of the story. we'll hear from him this hour on cnn. good morning, welcome to "early start." i'm christine romans. >> and i'm zoraida sambolin. it is 5:00 a.m. in the east. breaking new's massive earthquake in japan. it happened off the coast of japan, about 300 miles northeast of tokyo you can see on the tower cam that we are going to buildings swayed for several minutes there. let's go to alex zolbert live in tokyo what can you tell us? >> this happened friday evening b an hour and a half ago. an unnerving scene. a 7.3 magnitude earthquake. as we understand it, this came along the same fault line that triggered that massive tsunami in march of 2011. we have been watching all the local stations, trying to gather all the information we can. here's what we know at this point in
at this is basically something that you can ride along and freeload and let america and canada and japan handled? >> steve, your question -- >> i'm and freeload, by the way. >> that by the way is how the chinese would describe any relationship between japan and america. the interesting aspect of all these conflicts is that as india and china and india and china have a proximate geographically, but we've never been neighbors. >> right. >> in order to be neighbors you either have to love each other or hate each other. we have done neither. in fact, in 1962 during the first strategic conflict, between these two, you have to understand, it's hard to understand why we are not neighbors. [inaudible] in terms of inaccessible. but the positions, the lines, the strategies, the lines, what would they resonate to? the positions that are taken by postcolonial nations is that we will not be bound by decisions made by colonial powers. one, or in china's case, that we had to abandon our national positions. and now that we are strong, we need to resurrect them. right or wrong is not, that is very little to do w
strong quake that went on for about 90 seconds. >> major earthquake rocks northeast japan. >> the quake measured 7.3, centered in the pacific ocean. >> in the same area that suffered severe damage from a powerful quake and tsunami last year. >> the quake shook buildings as far as tokyo. >> fortunately, no major damage or injuries. >>> this morning the labor department says 146,000 jobs were added in november and unemployment fell to 7.7%. >> hurricane sandy did not have an impact on these numbers. clearly, you do have an improving situation here. >> the message we all want to send to members of congress is this is a solvable problem. >> we've only got 25 days until the fiscal cliff. >> according to "new york times," house speaker john ba boehner has asked democratic leaders to step aside so he and the president can negotiate a deal one on one, and no one is objecting. >>> the crisis in egypt remains volatile, with massive anti-government rallies planned today. >>> heartbreaking survival story for a woman stranded in the snow in the california sierra nevada mountains. >>> shoppers at a s
commodity. it could be exchanged for silk in india and the silk exchanged for swords in japan, and those swords would be sold back in england and the whole thing would start again. so the ex-peasant who is now running the show on a small plot of land handed over to him by the landlord would be an entrepreneur. effectively, he borrowed money from the landlord in order to pay for three things. rent of the land, wages in the form of corn, to the ex- peasants who are now wandering in the countryside knocking on doors because they don't have direct access to land, and some machinery, shears for clipping wool. so land, labor, and capital could be purchased in advance of production, on the basis that the entrepreneur, ex- peasant has to the landlord. -- on the basis of the debt that the entrepreneur, ex-peasant house to the landlord. so debt comes first, then comes distribution of income in the form of a labor contract. it will work for so many hours and i will give you so much corn. then comes production. it was a combination of this reversal of the order from having production followed by a d
the side of the mountain in almost every major country in the world, whether it's japan, china, europe is now pressing on the accelerator, brazil, even india, the united states. i think when you look at the monetary stimulus that's taking place around the world, the uncertainty over the cliff will go away. i think we'll grow better than 4% nominal and might grow 3% to 4% real in the united states and multiple expansion would clearly take place under that scenario, so i think it's hard to get to bearish, particularly when the stock market is not giving us any signs of meaningful deterioration, you know, whether you look at the technical indicators or fundamental indicators. >> a great point. bill stone, you know, rimm stock has done so well just in the last several weeks. we're still expecting a loss for the quarter on 2.66 billion in revenue, but do you own this stock? would you buy rimm? would you look to buy technology going into 2013? >> we don't own the stock. i will say i am a product user. i love rimm because i love that keyboard. i can't get rid of it. >> right. >> i don't reall
.3 magnitude quake hitting off japan in an area that does not neat incidents like these. new video buildings swaying and sirens wailing and men and women, children running for higher ground. a reminder of the massive quake and deadly tsunami hit the same area just about a year and a half ago. we'll drill down on that. good morning as we follow up as the earth started to shake earlier today. i'm bill hemmer. welcome to friday. martha: good morning everybody. i'm martha maccallum. last year's tsunami killed and left missing some 19,000 people. as you remember those unbelievable images we saw of the coast which was devstated. it also damaged nuclear power plants and created one of the worst nuclear disasters we've seen in history. bill: we held onto the story for a long time. japan today has canceled the tsunami warning which may be the best bit of news we heard so far. terrifying reminder may not be dismissed. david pipe every streams live out of southeast asia. what is the damage report in japan, david? >> reporter: bill, thankfully there hasn't been any serious damage reports. also no deaths
cac up 11%. thailand up 43%. japan up 6%. year to date, the usa is up over 12%. that ain't bad. let's bring in our pal, jim iuor iuorio. you know, jim, it's turning out to be a very good year and it's turning out to be a very good year on a global basis. >> no doubt about it. but let's break it down. japan's stock market has rallied huge because of promise of liquidity injections and doveishness. the same thing can be said for europe and for the u.s. around the globe, everyone's squeezing interest rates and forcing money to seek yield wherever it can. it could have followthrough in japan. europe has run kind of far -- the market has chosen to believe that europe's problems are somewhat behind us. i don't really share that philosophy. but i think this move is interesting. >> but the european financial risk fear indicators look great. in fact, these financial indicators look great worldwide. i agree with you trat central banks are greasing the wheels. but in a very gloomy world, a very gloomy psychology where the worst case becomes the most talked-about case, at some point don't the m
deployed an object that appeared to achieve orbit. the u.s., japan, south korea and the united nations all denounce the launch with washington, calling it a highly provocative act that threatens regional security. this hour the u.n. security council is meeting behind closed doors on today's rocket launch. that isn't likely to matter to north korea's new, young leader. kim jong un, who appears to be following in his father's foot accepts even dodged calls on this launch. chris lawrence is following this at the pentagon. chris, if you can tell us a little bit about the launch. it might seem surprising, but was it really surprising given the history we have with these leaders? >> reporter: it was only a surprise, ashley, that it happened last night. they knew this was going to take place, but when north korea asked to extend the launch window to the end of the year, most thought it would come next week at the earliest. i just spoke with a u.s. official who confirms that the object that north korea launched is still in orbit right now, and they're doing their final calculations to determine wh
that a budget deal is closer. in asia, japan's nikkei rising above the 10,000 mark, wow, the first time in more than eight months. still a ways from 50,000. among the catalysts, expectations of more aggressive monetary stimulus from the bank of japan. the boj wraps up a two-day meeting with a policy announcement tomorrow. >>> the world bank in the meantime is raising its 2013 economic growth forecast for china and for developing east asia. the organization says that the region remains resilient despite the lackluster performance of the global economy. the world bank sees china expanding by 8.4% next year. it's expecting that it will be fueled by fiscal stimulus and the faster implementation of large investment projects. today's forecast is higher than an earlier one that was sited in a world bank report in october. 8.4%, not bad both if you can get it. >>> speaking of china, the united states is moving forward with plans to slap steep anti-dumping duties on wind turbine towers that are imported from china at prices that are deemed unfairly low. the news from the commerce department comes as u.s
. we'll go next to japan. that is where gun violence is almost nonexistent, but first -- ♪ three cheers for the green and white ♪ ♪ the sandy hook school >> these are students from new york ps 22 chorus singing their song to honor the victims there in newtown. their goal, of course, to bring hope and inspiration to families who have been impacted by the shooting. these are fifth graders from staten island. ♪ we'll go ♪ we'll do our best our very best to learn and grow ♪ it's lots of things. all waking up. connecting to the global phenomenon we call the internet of everything. ♪ it's going to be amazing. and exciting. and maybe, most remarkably, not that far away. we're going to wake the world up. and watch, with eyes wide, as it gets to work. cisco. tomorrow starts here. (announcer) when subaru owners look in the mirror, cisco. they see more than themselves. so we celebrate our year-end with the "share the love" event. get a great deal on a new subaru and 250 dollars goes to your choice of five charities. by the end of this, our fifth year, our total can reach almost 25 mill
more competitive. meanwhile, the bank of japan was debating measures to -- joining us now, allen capper is with us around this table. when we talk about the yen, how important is this weakness? and do you expect this trade to be for 2013? >> i think this is probably the single most important thing the europeans ought to be watching. it's clear that the change in japanese policy, if by the time we get to q4 next year, you will see stronger japanese numbers, there would be a stronger temptation to carry out much more massive qe and fiscal stimulus. it's too early to say, but i think we need to watch japan carefully. >> currency wars is what ur use saying. >> absolutely. and i like his idea about fiscal stimulus through official use of the funds. it's a very interesting strategy. >> ur r it seems to me the next level of this is you have to bloef the government can achieve this. how are they going to be able to shake off inflation? >> the key look is to acknowledge that inflation is not the problem. when you talk to investors good qe, they're concerned about the inflationary impact. my mind
has taken place. now, the night before i went to bed i wasn't thinking about japan. i wasn't thinking about nuclear power. and now it's all-consuming. it just seems like we're in a period of time that's volatile from a geopolitical standpoint. it's volatile from an environment, nature standpoint. >> rose: jeff immelt for the hour. next. >> rose: general electric is the nation's largest industrial company. it employs over 300,000 people around the world. it makes everything from aircraft engines to power plant turbines to medical imaging equipment. the company has evolved over the last decade over jeff immeant's watch. he has led a global expansion and shed once treasured businesses such as plastics and insurance. in 2011, president obama named him to lead the council on jobs and competitiveness. last month, the country created 146,000 jobs, exceeding expectations in the wake of hurricane sandy. further progress will be tested as the fiscal cliff deadline approaches without a deal inside yet. i'm very pleased to have jeff immelt back on this program. welcome >> charlie, thanks, good to
on with the japanese elections? the new prime minister told the bank of japan we want more stimulus. guess who's meeting thursday? the bank of japan. japan's exports fall for the sixth straight month. you are going to see the bank of japan on thursday announce new stimulus measures. you're going to see efforts to weaken the yen. it's going to get even weaker. that is the old yen carry trade. that may be where some of this money is coming from to do the odd little trades that seem to be going on. out of bonds, into stocks, selling gold as well. i think that's a real factor here. what caught my eye this morning, there was a survey out saying the hedge funds is the most exposed to the market since 2010. a lot of people mentioned that and said, that is a contrary indicator, high levels of activity in the stock market for hedge funds, often a negative indicator overall. let me mention night capital. they are selling themselves to geico. i took two-to-one ratio. this is a good deal all around. you're going to marry the biggest, fastest traders out there, getco. you're going to marry that with knight
great support out of the ecb and the bank of japan is coming online. the only thing holding the market down is the potential consequences of the fiscal cliff. you get movement there, i think you take out the highs of the year and head toward 1,500 pretty quickly. >> meaning, you know, by the end of -- within days of reesk that deal? >> you know, the pace of assent may be not quite that rapid. i think we see that by the first quarter, if we get a good fiscal cliff deal. i think this morning's comments really, really advance that. i really take strong exception to mr. lindsey's point that the president does not want a deal. we actually believe that the president needs a deal almost as badly as the republicans. remember, he is a second-term president, and second-term presidents get very concerned about their long-term legacy. we have a recession in 2013, the republicans may be blamed short term, but that will bake in the cake four more years of weak economic growth and that would assure president obama has one of the weakest records of growth in history. he doesn't want that in the histor
's happening in japan. you guys may recall yesterday it was up .9%. this market has been on a tear this year. it's up more than 20 one of the best asset classes. the yen continues to weaken. there's two reasons why we're focusing here. we got weak economic data out of japan. industrial production decline. we saw core consumer prices decline. we can show you, though, what's happening with the yen. we're seeing the new finance minister coming out and saying to other countries, you know, look, we're not trying to materially weaken our yen and you have no place to accuse us of doing so. he says a strong dollar policy would benefit the u.s. very much so. and, again, might benefit japan, too, because that will make it a lot easier to get that yen lower. today, the dollar/yen is up .2% because it's important at this junction now that we've seen the new government come in, now that we've seen the new cabinet ministers, people who were expecting a lot of fiscal and monetary magic from to look at the data overnight and be reminded that it's no guarantee japan will magically be able to rejiger its econ
is not doing that well. not to talk about japan. so this has a slowdown effect which reverb rates on the growth of emerging countries. >> and i know when you see what's happening in italy, will this, the political developments in italy that cause more instability and less reform there, are you concerned that will have a further destabilization impact? >> no. i mean, i think it comes at a time where we are starting to see an exit, a crisis exist by europe. whether this will stabilize, i hope not. i mean, i think the italians are reasonably rationale. and they know what monti brought to them in terms of reducing the italian overprice on the market. and that's -- you know, that's big money. so it comes at the moment where, you know, europe was probably start to go exit the crisis. unfortunate, but the euro system i think now is stronger than it was a year ago. >> and we've seen a lot of change in the u.s. election as well as talk about whoever won whether there would be increased trade tension wes china.. we heard from tim cook last week and he was asked what would it take to make more products in
from the political grapevine. how does a country unapologize? japan may look to find out. "new york times" report the new government may revise 20-year-old apology to women forced to sexual slavery. the chief cabinet secretary declineed to uphold the apoll saying it would be desirable for experts and historians to study the 1993 statement. japan will hold up a larger apology. they will call on japan not to forget the militaristic past. >> go visit your parents. in china that is an order. they require adult children to visit the aging parents often. it does not specify how often. the parents feel they are neglected and sue them. it comes with reports of parents abandoned or ignored by the children. >>> as we talk about, there is a clear tuition over the fiscal cliff. they are working on the legislation, they will watch another battle on sunday. >> we are going to vote sunday night. probably watch the skins-cowboys game. >> washington and dallas play sunday night with the nfc east title on the line. the father played for the redskins in the 1930s. they were in boston at the time. >> m
, but only if we carry use it tracy: i remember when i was a kid they said japan was buying of rockefeller center. japan's by to take over the world. that never happened. >> no, but japan was our ally. we could deal with thejapanese on a reasonable basis. the problem with china is that it sees itself as supplanting the united states. has been very hostile and aggressive in recent years. it's trying to push the u.s. out of asia. they are not our friend, and so we don't want to give them a foothold in our economy. trac that being said, how do we stop this? do we not allow these deals to happen? in the u.s. is basically putting a defense. >> the chinese put up a fence. we couldn't buy if it were a chinese enterprise. we can stop this because the committee on foreign investment in the u.s. has the final say on sensitive acquisitions. and so they cann stop the acquisition. tracy: that probably should have >> they should. tracy: thank you fobeing here. the coming collapse of china. it is coming. >> it is. tracy: we want to know wha you think about all this. here is our question tonight. is the u
-- recently last week i was in korea and japan doing some business over there to with companies. i did hear over and over again, there's a lot of concern over there about whether or not the folks in washington will be able to get a deal together. because it's unlikely that many of those companies there or here are going to be willing to invest, to hire, to put people to work unless there's some kind of resolution, some kind of clarity looking forward. >> we'll leave it there. good to have you on the program, sir. thanks very much, governor. >> thank you. >> jack markell. >> and this is not a knock on the governor, but did you notice like so many elected officials, they can't bring themselves to publicly say the word, we raised taxes, right? which is what they did and it worked, but we raised revenue. revenue has become the new catch word for taxes. >> right. we are raising stock prices right now. we were down 189. down 107 right now. >> is this decline a preview of what can come next week if we don't see a deal to avoid the cliff? we'll talk about it. >> also, antawn shutz gives us his best
in japan. the country was rocked by a powerful 7.3 magnitude earthquake. it hit off the coast of tokyo. the buildings there shaking. you could see some of the video showing the degree to which they were shaking. alex, what's the latest? >> reporter: it has been a very, very tense few hours here in japan after you mentioned a 7.3 magnitude earthquake striking late here in the day on friday. but just in the past 90 minutes or so, the all clear has been given. the tsunami warning has been lifted. that's great news for the people here. there's no signs of any significant damage. no reports of any deaths. just a few injuries at this point. we also have to keep in mind the nuclear power plants. we have heard from the operator of those. they say everything is fine. but as you mentioned, this brings back very painful memories up for the people in the region in northern japan. we were on the phone with one person who said when this earthquake hit, their first reaction was ohno, not again. but it's late here on friday in tokyo where we are. everything appears to be fine. just one wave came ashor
and 188 aircrafts. that prompted the united states to declare war on japan. it was called a day which will live in em frommy. >> the national autobody counsel honored two veterans by giving them refurbished cars. >> they went to a marine and a navy soldier. they both served in afghanistan. >> and o on maf of other service members rg we appreciate the support and care. >> the group chose the anniversary of the attacks to honor the vets with the recycled rides program hillary clinton said that they are working on political transition. >> the united states stands with the sir yan people in sh syrian people in insisting that there be a unified democratic syria. >> that comes after she met with the russian prime minister. they still disagree on whether the president will have to leave the country as part of any transition, the u.s. wants him out, the russians do not. . >> a child is dead, another person is critically injured, news chopper 2 is live over a big rig crash. >> and in weather, our break in the rain continues. in fact you can't see now but temperatures are dropping off.
is supposed to be about the same. it will go to the south korea, china and japan in anticipation of that, japan today, deploying surface-to-air missiles, radar ships and troops just in case this thing goes off course, martha. martha: we've seen these sort of rattling of sabres before. we've seen some of these attempts fail over the ocean but you never know when they will be able get this right. so the diplomatic reaction to all of this, what is the pushback, greg? >> reporter: as you can imagine the reaction has been strong and negative in. in seoul, south korea ambassadors from that country, from united states, japan, russia, china, meeting with foreign ministry officials. japanese prime minister says we strongly call on north korea to refrain, a little bit of backtracking from china today. in their official media they are saying that perhaps the concerns are exaggerated. all this seems to be a chance once again for the new young leader of north korea, kim jong-un to burnish his image. two weeks from today on december 17th, it is the first anniversary of the death of his father kim jong
of all that, true. >> not such a crummy year for japan. japanese stocks rallying you can the yen continuing its slide against the dollar in all the major currencies, in fact. asian markets mixed overnight trading. the nikkei climbing to a closing level not seen since just before the march 2011 earthquake, marking a third day of gains, mostly drive bine hopes for a new stimulus policy. the yen is sitting closes to the lowest level since september 2010 against the dollar. interesting here because now a lot of people are saying the best or the hottest trade in 2013 will, in fact, be long japanese stocks and short the yen because what's different this time around, now there is an actual target, 90 is the target. we know where it is going to go. if they are able to weaken the yen to that point, it is a core roll lary stocks will go higher, exactly what happened with the united states, ben bernanke ease he can the monetary policy and the 14% gain in the stock market this year. >> seen the yen basically strangling japanese exports for so long. >> exactly. >> so you know, obviously i the
's threatened by this. such a missile could reach alaska, hawaii, south korea or japan. that's one of the reasons that all of those countries have taken precautionary measures, the u.s. sending four warships to the region, south korea has a warship observing all the events. japan activating its anti-missile shield. the plan launched in provocation in direct defines of the security council. the state department said we have the un security council statement which strongly condemned their last launch and made clear that the council was determined to take action if there is a further launch and we stand by that, end quote. just what action the un might take remains unclear but the tightening of sanctions is almost a sure bet and given that much of the technology for north korea's missile program is imported, a stricter ban of technology sports from around the world may be in the offing. >> shepard: technical problems is the reason given for the delay. it sounds like a lot of analysts believe that could be a cover. >> reporter: that's what couple of south korean analysts are telling th
that perhaps we may see some kind of stimulus in japan and china. there are still doubts when it comes to copper tp sue? >> all right, ber that, thank you very much. to the trading action on the floor of the nyse, with the dow down just about 11 points. >> there is a lot of topic on it yesterday. i think it is continuing today. let me show you the dow here in a narrow trading range. we wait to see what kind of deal. i think the street believes a deal is coming. take a look at dow jones industrial average. narrow as i gets. the big movers, industrial stocks, home building stocks, all of them are basically flat on the day. there's your dow industrials. these have big the big ones reisn'tly and home boo rerecently and the home builders on the flat side. money going into the stock market and i've seen money coming in through mutual funds too recently. stock mutual funds, money going into europe. money going into the euro and money coming out of gold and bond, sue. this is a very interesting development. it is not so relevant. gold is on the down side. >> it is worth noting. >> there is som
are performing the way you would like them to be. and japan has been a risk. >> japan certainly, we continue it see a lot of problems economically in japan. though we are heartened by announcements that have come out politically that would affect the monetary policy. we expect mormon tarry policy going forward. we think broadly of markets like china and brazil. these are markets that started to increase monetary easing. that have started to restructure their economies and certainly we think china has avoided very nicely a hard landing and will be back for growth track next year. >> talk to me about getting yield. that what everybody want right now. how are you doing it? high yield or investment grade securities or where? >> we are underweighted and they don't provide much of a yield these days. they are on high yield and we've had a barn burner of the year with high yield. we still think you can get high digit returns in 2013. and we are looking at global infrastructure in real estate as providing a nice sustainable yield for investors. >> the big debate down here for the past couple of days
. martha: how different than what happened with japan in the '80s. seems like they owned every building in new york. >> back in the '80s and very early '90s japan actually overpaid. they bought the pebble beach golf course in california and bought rockefeller center in new york. various other properties and paid huge dollars for them and lot of their shirts. this time around with china is not the case. you can't say they're paying a lot of money for aig's plane leasing business or a123. martha: stuart, thank you. see you coming up on the business channel. bill: here is the question for you. how much american debt does china actually own? as the largest foreign owner of u.s. debt it owns more than a trillion dollars in treasury securities. china's holding of u.s. debt has increased 56% over the course of the obama presidency which comes out to about $400 billion more. it has bought or invested in more than $15 billion in more than 100 u.s. companies going pack to january of 2010. that is influence. martha: new numbers raising fresh concerns here at home about our economy. the u.s. consum
and japan and all these countries start making stuff cheaper, it is problem for unions, and that is just a reality. >> it is also reality that some of that manufacturing is coming back, and not because of low wages. because of transportation costs, innovation, all kinds of things. what bothers me about this vote is that it was ught and paid for by a few wealthy people. the leader of the senate, the governor, both on record not want to do this initially . they did it turn around. and lost five seats and the legislature. >> you can look for all the conspiracy's you want. the fact is that michigan was adjusting to exactly the reality that evan isalking about, globalization. i think was glory days for the unions 94 is, 1950's, 1960's, when the rest of the world was devastated by the second world war, we had a monopoly and, yes, great benefits to it the problem is that when you have global competition, you are uncompetitive. detroit went bankrupt but the southern transplants did not. here is the tragic choice. in the right to work states, wages are 10% lower. unploynt is also 10% lower. here
, a manga from japan, a lot of boys are into. >> what is the storyline. >> about a guy trapped in a hotel room for 15 years and afterwards is given a few days to figure out why he was trapped in the hotel room or he will be killed so it's a psychological thriller, it's very strange, it's different, and spike lee had a huge hit with "inside man" so he knows how to do thrillers. this could be a big hit for him. we have to wait and see. >> for people like me still catching up on the movies of 2012, if you had to pick the top five say that you should try to see not before the end of the year but maybe before the end of january, before the oscars, what should you try to see? >> definitely "the sessions." it's a helen hunt movie and it's a little bit controversial. there's a lot of nude nit it but it's a touching film about a man who is sort of, can he barely move, and he wants to sort of experience sexual relations for the first time and enter helen hunt and it's in her role in the film is much buzzed about and i think it's worth seeing, i'd say "les mis," hugh jackman does a terrific job in t
with his wife. he played for the new york yankees last year and recently signed with a team in japan. >>> shinzo abe has been elected in japan as prime minister. he held the same position six years ago, but resigned because of health problems. he says he's okay now and promised to revive the economy, address japan's debt and create a recovery plan for last last year's earthquake, tsunami, and nuclear disaster. japan's economy sunk into recession two weeks ago. >>> 'tis now the season for gift cards and those returns. shoppers expected to flood the stores again today to return or exchange gifts that don't fit or they tonight want. an analyst tells "the wall street journal" 10% to 15% of coll holliday gifts come back as returns or exchanges. >> i don't have anything to return or exchange but i'm going to go to the store anyway, just to support the economy. because i enjoy it. >>> coming up, president obama heads back to the white house today to work on the ever looming fiscal cliff. can he cut a deal with republicans. >>> and david gregory may be in trouble of the law because of that a
china and europe and japan are having major problems of their own. that could affect the way they do business with us. joining us is to talk about, ed, good to see you. biggest problem some of these governments to stimulate their economies, die let's just print a bunch of money. that has catastrophic events with them and even with the united states that may tried traded with them. >> that seems to be just to print money. that is not how it works. when somebody prints money, it's devalues their currency which makes anything they want to export or anything that they are importing more expensive. that is why your food is more expensive because we imported a lot of that. that is why energy is more expensive because we import a lot of that. if every country is doing that, its race to the bottom how quickly they can devalue their currency. >> we trade with so many different nations. we trade with europe and certainly with china. look at our trade imbalance and you can figure that out. europe has only a handful of countries that are doing decently? >> there is about six. they are in the nor
will be the last and full trading day of the year. in asia, japan and south korean markets are closed. the rest of markets look a little bit like this. here is europe to begin with. only a few markets are open there today. among those closed include spain and germany. we're start with asia. shanghai composite is the outperformer. you saw up 1.6% there. here is a list of the markets closed across europe. germany, switzerland, germany and austria. for the bourses that are open, we can take a look at performance this morning and then we'll take a look over at the bond wall. the ftse 100 is down about .4%. ibex down .5%. not a clear picture. definitely mixed trade as people look to close out the year. the bond wall gives the sense for what kind of wall dominates. we're seeing bond yields move higher. investors are exiting the asset class today. italy around the 4.5% level. we've seen these predominant for several weeks and likely a quick check on forrus. the yen, an important one to keep an eye on, as well. dollar/yen firmer, continuing the patterns that we've seen over the last couple of trading s
the fine ba barclay's was fined. ubs also admitting to criminal wro wrongdoing in japan. >> how are global markets doing at this hour? >> well, actually global markets are up. they're cheering, you know, the fact that there could be a fiscal cliff deal between democrats and republicans. look, we've got european markets close to year highs, the cac and dax at 52-week highs. this is more related to the expected aggressive monetary easing by the boj, but even the u.s. markets, the s&p 500 at a two-month high. >> i'm curious, we never really know how the fiscal cliff conversation plays out overseas. is it something that moves the needle in the markets in europe and asia? >> absolutely it does. given that, you know, in terms of european risk, everything pretty much done and dusted. we don't have much more european event risk until the end of the year, this is what we're focusing on. every morning when we get to work, we are watching the overnight comments from mr. obama and mr. boehner. that's why european markets have been trading higher the last two trading days because there is optimism that
at a certain point. connell: are you worried at all about a slowdown in china? charles: europe is up. japan is. they will need natural gas and coal. global demand for this will be huge. this is one that i think people should own long-term. dagen: thank you. charles: by the way, i loved your interview with representative sanchez. dagen: thank you, charles. connell: a quarter past the hour, let's go back to the markets. nicole: we are looking at it now. they are digesting a big acquisition. as i noted, this is a top performer. it is up over 4%. let's take a look at the broader orchid and -- let's take a look at the broader market. the last time we saw this kind of trend it was up seven days. the dow is up. back to you. dagen: at it again. north korea launching a rocket. legitimacy of the regime. we will talk about that coming up. connell: to the stage for similar seeds in different areas of the nation. first, let's take a look at world currency. ♪ there is no mass-produced human. every human being is unique. and there is one store that recognizes it. the sleep nuer store. the only place in the
of the world's highest profile whistle blowers. michael woodford was president and ceo of japan's olympus corporation. his dream job turned in to a nightmare when he discovered the company had hidden more than $1 million in investment losses. he has a new book out called exposure. you had been at the company for a while but you were not the president and ceo. >> i'd been with the company for three decades. but became president on the first of april and was fired as president and ceo on the 14th of october. so 6 1/2 months. >> was it the previous ceo that orchestrated this? >> yes, he's admitted his guilt. >> and chairman was in cahoots? >> the former chairman and ceo became president. >> were you chairman, as well? >> no i wasn't. i was president and ceo. he remained chairman. he was known by many as the dr. evil character. and if you see his face, he looks like dr. evil and he was evil. >> it's hard to imagine. this is kind of a stunning story. just the idea that you could cover p broad losses. your problem was you looked and you saw the acquisitions that looked like ridiculous deals. ad
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